Blockchain company Zebi has leveraged its blockchain portfolio with NFT (Non Fungible Tokens) capabilities and announced the launch of a native blockchain ecosystem for the world of Cricket.
NFTs are unique blockchain based tokens which can be utilised to represent rights over digital collectibles, a release said.
With the entire blockchain industry stabilising globally and seeing a massive uptrend in the past few months, especially around NFTs, Zebi is launching a native network for Cricket.
NFT’s technology enables the sale and collection of digital media, unlike the traditional method of distribution and consumption model that has existed so long.
NFT also strengthens the fundamental ability of digital media being able to be identified as an original, and clearly establish its ownership, thus creating a whole new world of possibilities for both creators and collectors.
For instance, when a document is sent over an email, the receiver would receive a copy of the document whereas, the original copy will still be residing in the sender’s system.
If the document is forwarded 100 times, it is copied 100 times. So, it is always possible to duplicate or distribute content easily, but never be able to recognise an ‘original’. This is where NFT comes into existence and helps in identifying the original document and creates a business opportunity to the true owner and further monetise it, the release added.
Having discovered the great potential of NFT, Gaames Unlimited, a licensee of International Cricket Council, worked closely with Zebi over three years ago to create what could be the first samples of NFT from India.
The company believes that in long run, Cricket needs its own ecosystem, built by, run by and for the Cricket ecosystem partners.
“We started Zebi blockchain way back in 2016 with the intention of bringing the latest technology for India,” Zebi Co-founder and CEO Pruthvi Rao said.
“Having launched India’s first native private blockchain and first public blockchain, we have now leveraged our NFT capabilities with few of our esteemed and forward thinking partners,” he added.
“We have decided to partner with Zebi, as it has an extensive experience in creating the NFT technology for us right from scratch. All content owners and creators are seeing this as a massive opportunity, especially given that this is a whole new revenue stream, with a young and global audience” said smartcricket.com and Gaames Unlimited Founder Atul Srivastava.
While NFT is one of its latest offerings, Zebi has already launched path breaking solutions that aims to secure high value and sensitive data. It offers an array of products for data security and data infrastructure, that leverages blockchain as its core technology.